125th MAINE LEGISLATURE
		LD 847		LR 294(01)
	An Act To Increase the Amount of Deductible Business Expense Allowed for Property Placed in Service Beginning in 2011
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Sen. Bartlett, II of Cumberland
	Committee: Taxation
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
			FY 2011-12	FY 2012-13	Projections  FY 2013-14	Projections  FY 2014-15
Net Cost (Savings)
	General Fund		$5,723,097	$1,532,916	($1,577,295)	($1,261,837)
Revenue
	General Fund		($5,723,097)	($1,532,916)	$1,577,295	$1,261,837
	Other Special Revenue Funds		($301,216)	($80,680)	$83,016	$66,412
Fiscal Detail and Notes
	Permitting businesses to claim business expense deductions for purchases to the same extent as permitted by federal law will reduce General Fund revenue and reduce revenue sharing in fiscal years 2011-12 and 2012-13.  Beginning in fiscal year 2013-14, General Fund revenues will increase as well as revenue sharing owing to the smaller depreciation allowances that are anticipated to commence in that fiscal year.